Algert Global LLC Decreases Stake in Tutor Perini Co. (NYSE:TPC)

Algert Global LLC trimmed its position in shares of Tutor Perini Co. (NYSE:TPC) by 23.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 154,134 shares of the construction company’s stock after selling 46,280 shares during the quarter. Algert Global LLC’s holdings in Tutor Perini were worth $3,730,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock valued at $1,898,000 after purchasing an additional 52,319 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Tutor Perini by 24.6% during the 3rd quarter. Franklin Resources Inc. now owns 79,907 shares of the construction company’s stock worth $2,130,000 after buying an additional 15,788 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tutor Perini by 611.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock valued at $14,568,000 after buying an additional 460,945 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Tutor Perini by 67.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock valued at $2,255,000 after buying an additional 37,478 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its stake in Tutor Perini by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock worth $16,528,000 after acquiring an additional 43,600 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TPC shares. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. B. Riley raised Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th.

Tutor Perini Price Performance

Shares of TPC opened at $23.38 on Wednesday. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -9.31 and a beta of 1.62. Tutor Perini Co. has a fifty-two week low of $14.50 and a fifty-two week high of $34.55. The firm has a 50-day simple moving average of $23.12 and a 200-day simple moving average of $24.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted ($0.91) earnings per share.

Tutor Perini Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.